I came back from my morning appointment with a pounding headache that put me out of commission for the whole day. Still not recovered.
SPX took all day riding the Diagonal trendline as it made its final retracement high. The daily mid-Cycle resistance is now at 4293.97. I tis likely to be repelled at that level, if not beneath it. The trendline is near 4275.00. A decline beneath that level gives us a stronger sell signal.
I have a morning appointment and won’t return until after the market open.
SPX futures have recovered from the decline and may retrace to the mid-Cycle resistance at 4296.00. It may go higher. However, it would be a good location to add short positions.
VIX futures are consolidating within their trading range. The Cycles Model calls for growing strength next week and through the month of September. Patience may be needed at this stage until a breakout occurs.